Hot mid-cap stocks Afterpay Touch and Appen have joined the S&P/ASX 200 Index, joining chicken processor Ingham's Group as the winners from the June index rebalance. AMP will exit the top 20.

Asaleo Care, Iron Mountain and Retail Food Group will be dropped from the benchmark index, S&P confirmed on Friday.

Chief executive of Afterpay Touch Nicholas Molnar has seen his company move inside the ASX 200 before its first year on the boards. James Brickwood

Afterpay and Appen will increase the amount of information technology stocks in the ASX 200 from 12 to 14, joining the likes of Xero and WiseTech Global.

The index rebalance comes at a welcome time for Ingham's Group, after its shares fell 9.1 per cent during Thursday's trade upon chief executive Mick McMahon announcing he will step down from his position. McMahon joined the then private company in 2015, leading the transition onto the ASX boards in late 2016.

Toilet paper and tissue manufacturer Asaleo Care has faced an increasingly competitive trading environment. Its shares have fallen close to 10 per cent since the start of the year.

Myer tumbles out of another index

The quarterly rebalance has also seen embattled finance giant AMP will drop outside of the ASX 20 where it will be replaced by global packaging giant Amcor. AMP shares have fallen by a third in the past three months as it faces at least four shareholder class actions.

Hearing implant maker Cochlear will move inside the ASX 50 at the expense of Incitec Pivot which has faced a tough start to the year. Whitehaven Coal's strong growth in the past year sees it move inside the ASX100 while GrainCorp drops out of the index after its profits sunk 64 per cent for the first half of the year.

It has now dropped outside of the S&P/ASX All Australian 200 Index, an index comprising of the top 200 Australian domiciled companies by capitalisation. While not as important as the drop outside the ASX200 in March, it may not be a good omen for new chief executive John King who only started in his role on Monday.

The quarterly rebalances will become effective at the opening of trading on June 18.